10 Best African Countries for Business

6) Cape Verde (GDP:$2 billion,Trade Balance: -5.1%)

The economy is service-oriented with commerce, transport, tourism, and public services accounting for about three-fourths of GDP. Tourism is the mainstay of the economy and it is heavily dependent on conditions in the euro zone countries. Cape Verde annually runs a high trade deficit financed by foreign aid and remittances from its large pool of emigrants; remittances supplement GDP by more than 20%. Despite the lack of resources, sound economic management has produced steadily improving incomes.


5) Rwanda (GDP: $8 billion, Trade Balance: -8.7%)

Around 90 percent of the population of Rwanda is engaged in agriculture and mineral and agro processing. Inflation is this poor rural country is 5.9 percent and trade balance is -8.7 percent. The government has embraced an expansionary fiscal policy to reduce poverty by pursuing market-oriented reforms.


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